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The Australian market is extending its early losses in mid-market moves on Thursday, adding to the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P\/ASX 200 is falling well below the 9,200 level, with a mixed performance across most sectors.<\/p>\n
The benchmark S&P\/ASX 200 Index is losing 53.50 points or 0.58 percent to 9,155.90, after hitting a low of 9,141.30 earlier. The broader All Ordinaries Index is down 54.40 points or 0.58 percent to 9,350.30. Australian stocks ended notably lower on Wednesday.<\/p>\n
Among major miners, BHP Group is edging down 0.3 percent, Rio Tinto is losing more than 3 percent and Mineral Resources is declining almost 2 percent, while Fortescue is gaining almost 1 percent.<\/p>\n
Oil stocks are mostly lower. Woodside Energy is down almost 1 percent, Beach energy is declining almost 3 percent and Santos is losing more than 1 percent, while Origin Energy is surging almost 5 percent on upbeat results.<\/p>\n
In the tech space, Afterpay owner Block is losing almost 1 percent and Zip is declining almost 3 percent, while WiseTech Global is gaining more than 1 percent, Xero is edging up 0.2 percent and Appen is advancing more than 2 percent.<\/p>\n
Among the big four banks, ANZ Banking is gaining almost 3 percent, Westpac is edging up 0.4 percent and National Australia Bank is adding almost 1 percent, while Commonwealth Bank is losing almost 3 percent.<\/p>\n
Among gold miners, Genesis Minerals is declining almost 2 percent, Evolution Mining is losing almost 1 percent and Resolute Mining is slipping more than 2 percent, while Newmont and Northern Star Resources are gaining more than 1 percent each.<\/p>\n
In other news, shares in Cleanaway are jumping almost 16 percent after the waste management company announced it had received a $9.4 billion takeover bid from Swedish private equity group EQT Infrastructure.<\/p>\n
Shares in ASX Ltd are surging more than 12 percent after reporting a 5 percent rise in full-year underlying profit.<\/p>\n
Shares in IAG slipped more than 6 percent after posting a nearly 25 per cent fall in net profit in its full-year results.<\/p>\n
In the currency market, the Aussie dollar is trading at $0.705 on Thursday. <\/p>\n<\/p>\n
Market Analysis<\/p>\n<\/div>\n